Your first 6 months in real estate business will be your toughest. There will be many times when you feel like you are working hard with no results in sight. Sometime you feel like you’re doing everything wrong. You’ll be heart broken, depressed and start thinking about quitting. Don’t even think about it.

Having a successful career in any type of business means being able to stay positive and focused on your goals even when all things, people and conditions are telling you to do otherwise. Make the goal right now to persevere through the challenges. Resolve to continue to move forward to improve your skills, learn from your mistakes, and don’t stop your prospecting routine. Never say it can’t be done. Keep your mindset positive and conquer your own objectives one at a time.

Henry ford said, “If you think you can or you think you can’t, either way, you’re right.” Ford new that your believe and mindset will help produce the results that you desire. Staying positive, every day, is one of the hardest parts of sales for any professional. You have to believe in yourself.

True Definition of Persistence

Do you know Froy Candelario? Have you ever heard of his name? Froy Candelario is an agent based in Southern California.

He sells way too many homes. Anywhere from 300 to 400 homes per year for the last 10 years. He doesn’t even list his listing on MLS. He sells 80% of his home by himself which means he represented both buyer and seller sides to keep all his commission. He works with only 4 staff members. He is one of the super agent in the whole country. He gets his listing with only cold calling and door knocking. Quite amazing stats. He’s net worth is estimated at upward of $100 million.

Froy’s true story is not in his real estate stats. Originally Froy is from Mexico. He and a friend decided to come to the United States, the land of opportunity to escape poverty from Mexico. They cross the border by hanging on to the underside of a train. They rode for hours, clinging to the train for their lives. They had no idea where they were and they could not let go for fear of being run over by the train. The miles clicked by and they were getting extremely tired. Finally, Froy’s friend could not hang on any longer. He let go and was crushed. Froy was devastated by the loss of his friend, but vowed to hang on. Less than five minutes later the train stopped. Froy had reached his destination. He had made it to the United States.

The lesson that Froy learned from his immigration experience is that one componen of success is being able to hang on a little bit longer than the next guy.

That’s the true definition of persistence.

Persistence:

1. the action or fact of persisting
2. the quality or state of being persistent; especially : PERSEVERANCE

Persisting: to go on resolutely or stubbornly in spite of opposition, importunity, or warning

Perseverance: to persist in a state, enterprise, or undertaking in spite of counterinfluences, opposition, or discouragement.

So you want to be a real estate agent?

Many People want to become a real estate agent for many reasons, some good and some bad. I’ve heard many different reasons but followings are the most common.

Top 5 reasons:

1. Money, $$$$$, Money
2. Flexible Hours.
3. Help others to achieve American Dream.
4. Work with different people everyday.
5. Be my own boss.

I’d like to share my reasons with you. Honestly, I was clearly motivated by money. I wanted to make a six figure income by working hard and retire as early as possible. I didn’t want a cap on my earning potential. I din’t want to work for someone else. I didn’t want to work 9-5 and stuck in traffic jam. I didn’t want to rent a apartment and keep making my landlord rich. I didn’t want to use credit cards and borrow money from bank to purchase a car. I wanted to become financially independent.

What is your reason? What motivates you every morning? You should know your reasons before you enter the real estate industry.

Many Brokers or Real Estate Companies offer license training programs. These programs will help you prepare for and pass your state licensing exams. Some of these firms teach you through classroom programs aimed at meeting the minimum requirements in your state, and often these classroom programs are give out CDs, workbooks, and other materials that you can study outside the classroom.

In addition, many firms offer their own pre-licensing training programs at no cost to you. Other will charge you small fee to cover the cost of materials.

Quite few brokers & companies will pay for these programs and even cover the cost of the state exam fees if you sign a paper that you choose them as principal brokerage firm. These firms usually will deduct these fees from your first commission check or waive if you exceed the performance level. If you are comfortable with a couple of offices, you might consider the one that is willing to invest in your career financially. Seeking out the best firm for you and talking with them will also help you begin networking within your real estate market.

After you sign up for your state license exam, you will receive tons of mail & phone calls from brokers and real estate firm in your area. Basically they’re farming all the new licensees to join their firm. If you start making sales, they’ll get the portion of your commission check.
They’ll offer many things for you including, free business cards, postcards, marketing materials and license fee reimbursement. I’ve seen brokers offering no commission split on first transaction. Most of brokers and real estate firms are always looking for new agents to add to their roster. Call them and make appointments to find out which company will help you to be successful.

Well, nothing is free in this world. Start up cost for building your Real Estate Empire is no exception. This is just an estimated figure to give you some idea how much you will be spending in first 3 months. You must take full control over your expenses.  Not only you have to become a good salesman but you also have to become better businessman in order to success in Real Estate business. I break them down into 3 categories; Basic, required, and optional expenses. Most expenses are based in California. Check your local Department of Real Estate & Local Boards.

Start Up Cost Break Down:
Basic License Expenses: $ 340

1. State Exam: $ 25
2. License: $ 145
3. Finger Print: $ 20
4. Required Classes, Textbook and Exam Prep: $ 150

Required Expenses: $ 4,050

1. Business Cards: $ 100
2. Annual MLS Access: $ 250
3. Errors & Omission Insurance: $ 800
4. GE/Supra eKey & Lock Box: $ 300
5. Printing & Mailing: $ 1,500
6. Auto Insurance for Realtor: $ 500 extra/year
7. Signage: $ 300
8. Website: $ 300

Optional Expenses: $4,900

1. Association of Realtor: $ 350
2. Digital Camera: $250
3. Laptop Computer: $ 800
4. Mobile Broadband Card & Subscription: $ 500
5. Advertising: $1,000
6. Office Expense: $2,000

Total Start Up: $ 9,290 +

This figure doesn’t include the automobile expenses such as gas, car payments and maintenance. You may be surprised that cost of real estate career is not cheap. But there are not that many business that you can earn 6 figure income every year with $10,000 initial investment.